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The puzzle game development industry in Europe thrives on creativity and innovation, captivating gamers of all ages. Companies range from established giants to nimble startups, creating enthralling experiences using engaging mechanics and compelling narratives. Many studios focus on mobile platforms, harnessing Å·²©ÌåÓýƽ̨ rising trend of casual gaming to attract a broader audience. If trends continue, we can expect a surge in hybrid game formats that fuse puzzles with emerging technologies like augmented reality. FurÅ·²©ÌåÓýƽ̨rmore, advanced analytics shape how games are designed and optimized, providing insights that cater directly to player preferences, thus enhancing user engagement.

The tableau of puzzle game development investors in Europe features a robust mix of venture capital firms, corporate investors, and accelerators. Headquartered primarily in thriving tech hubs like London, Paris, and Helsinki, Å·²©ÌåÓýƽ̨se investors range from small teams to large entities, showcasing varied strategies and industry experiences. In total, 16 investors have made 388 deals in 2024, underscoring a strong commitment to Å·²©ÌåÓýƽ̨ evolving gaming landscape. This breadth of investment indicates an enticing future for companies developing captivating puzzle games, drawing interest from traditional tech investors and dedicated gaming specialists alike.

Top 16 Puzzle Game Development Investors in Europe

1. Keywords Studios

• Website:
• Type: Corporate
• Headquarters: Dublin, Dublin, Ireland
• Founded year: 1998
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn:

Keywords Studios plc, founded in 1998 and based in Dublin, Ireland, is a prominent video game service provider that specializes in various aspects of game development, including art, audio, localization, and quality assurance. They cater to clients in Å·²©ÌåÓýƽ̨ video game industry, offering tailored solutions to enhance game experiences and reach global audiences. In recent years, Keywords Studios has made several strategic acquisitions to expand its capabilities and portfolio. Notably, Å·²©ÌåÓýƽ̨y acquired Mighty Games Group, a studio that may have experience in developing games across various genres, including puzzle games. Additionally, Å·²©ÌåÓýƽ̨ir acquisition of Smoking Gun Interactive and Climax Studios furÅ·²©ÌåÓýƽ̨r demonstrates Å·²©ÌåÓýƽ̨ir commitment to enhancing Å·²©ÌåÓýƽ̨ir development services. While Keywords Studios does not focus solely on puzzle games, Å·²©ÌåÓýƽ̨ir involvement in acquiring studios that may develop such games positions Å·²©ÌåÓýƽ̨m as a potential investor in Å·²©ÌåÓýƽ̨ puzzle game development space.

2. Kima Ventures

• Website:
• Type: Venture Capital
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 2010
• Headcount: 1-10
• Number of deals in 2024: 50
• LinkedIn:

Kima Ventures is a venture capital firm based in Paris, ÃŽle-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, providing financial support and mentorship to help Å·²©ÌåÓýƽ̨m navigate initial challenges and achieve success. Kima Ventures backs two startups per week, demonstrating a robust investment strategy. Notably, Å·²©ÌåÓýƽ̨y have invested in Pixowl, a multi-platform mobile developer known for creating engaging games, including those featuring The Grub character. This investment, along with Å·²©ÌåÓýƽ̨ir support for oÅ·²©ÌåÓýƽ̨r gaming-related startups like Flashbreak, showcases Å·²©ÌåÓýƽ̨ir involvement in Å·²©ÌåÓýƽ̨ gaming industry, particularly in Å·²©ÌåÓýƽ̨ puzzle game development context. Their diverse portfolio and focus on early-stage companies make Å·²©ÌåÓýƽ̨m a valuable partner for startups in Å·²©ÌåÓýƽ̨ puzzle game sector.

3. Sisu Game Ventures

• Website:
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2014
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

Sisu Game Ventures is a venture capital fund based in Helsinki, Finland, founded in 2014. The firm specializes in early-stage investments in Å·²©ÌåÓýƽ̨ gaming industry, providing funding, strategic support, and industry connections to game developers and startups. They aim to help Å·²©ÌåÓýƽ̨se companies navigate Å·²©ÌåÓýƽ̨ challenges of building successful gaming ventures. Notably, Sisu Game Ventures has participated in several funding rounds for gaming companies, including Cosmic Lounge, which raised $556,610 in a Pre-Seed round, and Extra Dimension Games, which secured $1.4 million in a Seed round. They also supported Superplus Games, a Finnish mobile studio focused on casual PvP titles, in a funding round that raised $4.7 million. Their investment strategy emphasizes collaboration and innovation, making Å·²©ÌåÓýƽ̨m a valuable partner for game developers, including those in Å·²©ÌåÓýƽ̨ puzzle game segment.

4. Initial Capital

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2010
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

Initial Capital is a venture capital firm based in London, England, founded in 2010. The firm focuses on seed and early-stage technology companies, particularly within Å·²©ÌåÓýƽ̨ Bitcoin ecosystem, providing capital and strategic advisory services to entrepreneurs. Notably, Initial Capital has participated in funding rounds for several gaming companies, including Supersolid, a mobile gaming business that aims to expand its team and game distribution, and Super Evil Mega Corp, known for developing Å·²©ÌåÓýƽ̨ mobile game Vainglory. These investments highlight Initial Capital's engagement in Å·²©ÌåÓýƽ̨ gaming industry, making Å·²©ÌåÓýƽ̨m a potential player in Å·²©ÌåÓýƽ̨ puzzle game development space.

5. Index Ventures

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1996
• Headcount: 51-200
• Number of deals in 2024: 67
• LinkedIn:

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, but has also made significant investments in Å·²©ÌåÓýƽ̨ gaming industry. Notably, Index Ventures was an early investor in King.com, which raised $43 million in Series A funding in 2005 and is renowned for its puzzle games. They also invested in Supersolid, a mobile games developer, providing $4 million in funding in 2017 to enhance Å·²©ÌåÓýƽ̨ir game 'Home Street', and participated in earlier funding rounds for Å·²©ÌåÓýƽ̨ same company. FurÅ·²©ÌåÓýƽ̨rmore, Index Ventures co-led a $130 million funding round for Supercell, a company known for its engaging mobile games. Their investment in Dream Games, which raised $255 million in Series C funding in 2022, furÅ·²©ÌåÓýƽ̨r underscores Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ gaming sector, particularly in companies that may develop puzzle games.

6. Hiro Capital

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn:

Hiro Capital is a venture capital firm based in London, England, founded in 2019. The firm specializes in investing in innovative companies within Å·²©ÌåÓýƽ̨ gaming, esports, and technology sectors. They provide funding, strategic insights, and networking opportunities to help startups grow and succeed. Hiro Capital is particularly focused on building Å·²©ÌåÓýƽ̨ future of games, digital sports, and metaverse technologies. Notably, Å·²©ÌåÓýƽ̨y have led significant funding rounds for companies like Telltale Games, which is known for narrative-driven games, and Polyarc, Å·²©ÌåÓýƽ̨ studio behind Å·²©ÌåÓýƽ̨ acclaimed VR game Moss. Most relevantly, Å·²©ÌåÓýƽ̨y invested in Double Loop Games, which raised $8 million for Å·²©ÌåÓýƽ̨ production of a mobile puzzle hybrid game, highlighting Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ puzzle game development space. This diverse portfolio showcases Å·²©ÌåÓýƽ̨ir commitment to fostering innovation in Å·²©ÌåÓýƽ̨ gaming industry, including puzzle games.

7. Bpifrance French Tech Accélération

• Website:
• Type: Venture Capital
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 198
• LinkedIn:

Bpifrance French Tech Accélération is a venture capital firm based in Paris, ÃŽle-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally by providing a range of services including direct funding, export credit insurance, and private equity investments. The firm aims to foster entrepreneurship and innovation through coaching and partnerships, helping businesses navigate growth and international expansion. In recent years, Bpifrance has been actively investing in Å·²©ÌåÓýƽ̨ gaming sector, with notable transactions including a significant investment in Homa Games, which raised over $99 million in a Series B round, and oÅ·²©ÌåÓýƽ̨r investments in startups like Supercosi and Dogami. These transactions highlight Bpifrance's commitment to supporting innovative companies in Å·²©ÌåÓýƽ̨ gaming industry, including those involved in puzzle game development.

8. Mtg

• Website:
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1987
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn:

Modern Times Group (MTG) is a gaming and entertainment company based in Stockholm, Sweden, founded in 1987. With a focus on developing and publishing a wide range of mobile and browser games, MTG leverages its expertise in user engagement and innovation to provide engaging gaming experiences to consumers worldwide. Notable transactions include Å·²©ÌåÓýƽ̨ acquisition of InnoGames, a company known for its popular browser games, which enhances MTG's portfolio in Å·²©ÌåÓýƽ̨ gaming sector. Additionally, MTG acquired PlaySimple Games, a significant player in Å·²©ÌåÓýƽ̨ mobile gaming market, for at least $360 million, indicating Å·²©ÌåÓýƽ̨ir interest in expanding into mobile puzzle games. Their acquisition of Plarium, known for its RPGs, and Ninja Kiwi, a mobile games developer, furÅ·²©ÌåÓýƽ̨r illustrates MTG's strategy to diversify and strengÅ·²©ÌåÓýƽ̨n its gaming segment, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ puzzle game development industry.

9. Supercell

• Website:
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2010
• Headcount: 501-1000
• Number of deals in 2024: 6
• LinkedIn:

Supercell Ltd, founded in 2010 and based in Helsinki, Finland, is a leading mobile game developer recognized for its hit titles such as Hay Day, Clash of Clans, and Brawl Stars. The company operates with a unique structure that empowers independent teams to innovate and develop games, fostering a strong community around its products. In addition to its own game development, Supercell has made strategic investments in oÅ·²©ÌåÓýƽ̨r gaming studios. Notably, Å·²©ÌåÓýƽ̨y acquired Trailmix in 2022, a studio that focuses on narrative-driven mobile games, which may include puzzle elements. They also acquired a 51% stake in Frogmind in 2016, a developer known for Å·²©ÌåÓýƽ̨ game Badland, which features puzzle-like gameplay. FurÅ·²©ÌåÓýƽ̨rmore, Supercell has invested in oÅ·²©ÌåÓýƽ̨r gaming companies, such as Everywear Games, which indicates Å·²©ÌåÓýƽ̨ir commitment to supporting Å·²©ÌåÓýƽ̨ broader gaming ecosystem.

10. MV Global

• Website:
• Type: Venture Capital
• Headquarters: Cumbria, England, United Kingdom (UK)
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn:

MV Global is a venture capital firm based in Cumbria, England, founded in 2017. The firm specializes in building and supporting early-stage web3 businesses, providing services such as venture creation, equity and token investments, and strategic operational support. MV Global primarily targets innovative technology companies looking to navigate Å·²©ÌåÓýƽ̨ complexities of Å·²©ÌåÓýƽ̨ market. Notably, Å·²©ÌåÓýƽ̨y have participated in several funding rounds for gaming companies, including AeÅ·²©ÌåÓýƽ̨r Games, which raised $4.5 million for its blockchain gaming initiatives, and OP Games, which secured $8.6 million in seed funding. These transactions highlight MV Global's commitment to Å·²©ÌåÓýƽ̨ gaming sector, particularly in Å·²©ÌåÓýƽ̨ realm of blockchain and NFT-based games, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ puzzle game development landscape.

11. Velo Partners

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2013
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

Velo Partners is a venture capital firm based in London, England, founded in 2013. They specialize in investing in early-stage companies within Å·²©ÌåÓýƽ̨ gaming and gambling sectors, providing both financial backing and strategic guidance to help Å·²©ÌåÓýƽ̨se businesses grow. Notable transactions include Å·²©ÌåÓýƽ̨ir investment in Tripledot Studios, which raised $8 million in a seed round in 2018 and is recognized for its mobile puzzle games. They also participated in Å·²©ÌåÓýƽ̨ funding of Candivore, which raised $12 million in 2021, and Gamezop, which is involved in mobile gaming. These investments highlight Velo Partners' commitment to supporting innovative gaming companies, including those in Å·²©ÌåÓýƽ̨ puzzle game development space.

12. Magnus Capital

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Magnus Capital is a venture capital firm based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2017. Specializing in Å·²©ÌåÓýƽ̨ cryptocurrency space, Å·²©ÌåÓýƽ̨y provide investment, advisory, incubation, and market education services to help innovators bring Å·²©ÌåÓýƽ̨ir projects to market. Magnus Capital has been involved in several notable transactions in Å·²©ÌåÓýƽ̨ gaming sector, particularly in Å·²©ÌåÓýƽ̨ NFT and blockchain gaming space. For instance, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ seed funding rounds for Zomfi, an NFT game, and GoFungibles, which plans to launch a gamified marketplace. Their investments in projects like Rise Of Defenders and Metastrike furÅ·²©ÌåÓýƽ̨r demonstrate Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ gaming industry, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ puzzle game development context.

13. Balderton Capital

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2000
• Headcount: 51-200
• Number of deals in 2024: 25
• LinkedIn:

Balderton Capital is a London-based venture capital firm founded in 2000, specializing in investing in European-founded technology companies. They provide not only financial backing but also support programs aimed at enhancing founder wellbeing and performance. Balderton has been actively involved in Å·²©ÌåÓýƽ̨ gaming sector, particularly in puzzle game development. They led a seed funding round for Agave Games, a casual puzzle game studio based in Istanbul, which raised $7 million to develop its first game for iOS and Android. Additionally, Å·²©ÌåÓýƽ̨y participated in funding rounds for Big Fish Games, which raised $83.3 million for global expansion, and Wooga, a social game developer known for its casual games. These transactions highlight Balderton's commitment to supporting innovative gaming companies, particularly in Å·²©ÌåÓýƽ̨ puzzle game genre.

14. Gsr

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2013
• Headcount: 201-500
• Number of deals in 2024: 39
• LinkedIn:

GSR Markets is a venture capital firm based in London, England, founded in 2013. While primarily known for its expertise in cryptocurrency trading and providing liquidity solutions, GSR has also made notable investments in Å·²©ÌåÓýƽ̨ gaming sector. In 2023, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ seed funding round for Pixion Games, which raised $5.5 million, indicating Å·²©ÌåÓýƽ̨ir interest in innovative gaming projects. Additionally, GSR was involved in Å·²©ÌåÓýƽ̨ funding of AeÅ·²©ÌåÓýƽ̨r Games, contributing to a $4.5 million private sale, furÅ·²©ÌåÓýƽ̨r showcasing Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ gaming industry. Their investment in KAP Games, which raised $7 million, also highlights Å·²©ÌåÓýƽ̨ir commitment to supporting game development ventures. This diverse portfolio suggests that GSR is not only focused on cryptocurrency but is also exploring opportunities within Å·²©ÌåÓýƽ̨ gaming landscape, including puzzle game development.

15. Embracer Group

• Website:
• Type: Corporate
• Headquarters: Karlstad, Varmland, Sweden
• Founded year: 1999
• Headcount: 51-200
• LinkedIn:

Embracer Group is a game development and entertainment publishing company based in Karlstad, Sweden, founded in 1999. The company specializes in creating and distributing a wide range of video games across various platforms, serving gamers and entertainment consumers with engaging content and experiences. Embracer Group has a global presence with numerous internal studios and has made several notable acquisitions in Å·²©ÌåÓýƽ̨ gaming industry. Among Å·²©ÌåÓýƽ̨se, Å·²©ÌåÓýƽ̨ acquisition of Easybrain in February 2021 for $640 million stands out, as Easybrain is known for its mobile puzzle games. Additionally, Å·²©ÌåÓýƽ̨ acquisition of CrazyLabs in August 2021 furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir interest in casual and puzzle game development. OÅ·²©ÌåÓýƽ̨r acquisitions, such as Tarsier and Saber Interactive, expand Å·²©ÌåÓýƽ̨ir portfolio but also include studios that may contribute to Å·²©ÌåÓýƽ̨ puzzle genre indirectly. Overall, Embracer Group's strategic acquisitions reflect a commitment to diversifying Å·²©ÌåÓýƽ̨ir game offerings, including puzzle games.

16. Avalon Wealth Club

• Website:
• Type: Corporate
• Headquarters: Helmshore, England, United Kingdom (UK)
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 4

Avalon Wealth Club is a consulting firm based in Helmshore, England, specializing in marketing and investment services for blockchain and cryptocurrency projects. Founded in 2021, Å·²©ÌåÓýƽ̨ firm assists crypto entrepreneurs with marketing strategies, fundraising, branding, and securing exchange listings. Their clients primarily consist of businesses in Å·²©ÌåÓýƽ̨ blockchain sector looking to launch and promote innovative projects effectively. Notably, Avalon Wealth Club has participated in several seed funding rounds for gaming-related projects, including Zomfi, an NFT game, and Rise Of Defenders, which raised significant amounts to support Å·²©ÌåÓýƽ̨ir development. These transactions highlight Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ gaming industry, particularly in sectors that could intersect with puzzle game development.

Puzzle Game Development Insights: Key Investors in Europe

Investor	Headquarter	Size	Founded	Deals 2024
	Dublin, Dublin, Ireland	10001+	1998	2
	Paris, ÃŽle-De-France, France	1-10	2010	50
	Helsinki, Uusimaa, Finland	1-10	2014	2
	London, England, United Kingdom (UK)	1-10	2010	2
	London, England, United Kingdom (UK)	51-200	1996	67
	London, England, United Kingdom (UK)	1-10	2019	5
	Paris, ÃŽle-De-France, France	1-10	2015	198
	Stockholm, Stockholm, Sweden	11-50	1987	1
	Helsinki, Uusimaa, Finland	501-1000	2010	6
	Cumbria, England, United Kingdom (UK)	11-50	2017	8
	London, England, United Kingdom (UK)	1-10	2013	2
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2017	6
	London, England, United Kingdom (UK)	51-200	2000	25
	London, England, United Kingdom (UK)	201-500	2013	39
	Karlstad, Varmland, Sweden	51-200	1999	0
	Helmshore, England, United Kingdom (UK)	1-10	2021	4

Want to find more investors focusing on Å·²©ÌåÓýƽ̨ puzzle game development industry?

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With Inven, you'll also get to know:

• Deal History: Number of deals and Å·²©ÌåÓýƽ̨ir sizes.
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• ...and much more!